Lets tell OPEC to go pound sand !
You now know we can !
The U. S. Geological Service issued a report in April 2008 that
only scientists and oil men knew was coming, and it no doubt put the OPEC panties in a wad. What are we going to do with all this oil if the infidels don't need it anymore? I can hear them murmur.
The report, that hasn't been updated since 1995, and most-likely squirreled away by pass and present administrations, showed just how much oil, and oil shale, there is in western North and South Dakota and Eastern Montana. Called The Bakken Formation, is the largest US oil discovery since the Alaska Prudhoe Bay find. And get this, might want to sit down; this formation has the grand potential to eliminate all our dependence on foreign oil. Not just most, but ALL of it. And what part of 'ALL' don't you understand, and led to believe otherwise.
The Energy Information Administration (EIA) estimates it at 503 billion barrels. And even if just 10% of the oil is recoverable, at the low end, we're looking at a resource base worth more than $5.3 trillion, at $107 a barrel. This is the highest-producing onshore oil field found In the past 56 years. Hope you're still sitting because: we have access of up to 500 billion barrels, which means all of us Americans will only have to pay just $16.00 dollars per barrel! At the pump we could fill-up for less than a dollar. That's enough crude to fully fuel the American economy for the next 2041 years.
And not only that, you thought I was finished didn't ya? Hiding 1,000 feet under the Rocky Mountains is the largest untapped oil reserve in the world; more than 2 TRILLION barrels. Makes you wonder why for years and years we put ourselves through these high oil prices when we have the mother of mother-loads in our 'backyard.'
What's love got to do with it ?
There's more oil here than all the other proven reserves on earth !
- 8-times as much oil as Saudi Arabia
- 18-times as much oil as Iraq
- 21-times as much oil as Kuwait
- 22-times as much oil as Iran
- 500-times as much oil as Yemen
LBN-COMMENTARY By JOHN STOSSEL: The skyrocketing price of gas and oil has nothing to do with the fundamentals of supply and demand, and has everything to do with Wall Street firms that are artificially jacking up the price of oil in the energy futures markets. … (T)he same Wall Street speculators that caused the worst financial crisis since the 1930s through their greed, recklessness and illegal behavior are ripping off the American people again by gambling that the price of oil and gas will continue to go up.